Romania Feed

In 2023, Zetta Hospital, created a decade ago by doctor Dragos Zamfirescu, is set to register 18% turnover growth, crossing the EUR6 million mark, according to Andreea Constantin Vilcioiu, general manager of the medical unit.

Net profit generated by the Romanian banking system at end-2022 hit a record high of RON10.2 billion, up 24.4% from the 2021 gain.

Franke Romania, the local subsidiary of the Swiss group by the same name, ended last year with EUR12.9 million revenue, its officials say. The revenue was 5% lower than in 2021, as ZF calculated from the figures announced and the public data. Moreover, it is about 15% lower than the budgeted RON73.2 million (EUR14.9 million).

Dutch renewable energy group Photon Energy has announced that Photon Energy Engineering – the Group’s Romanian subsidiary dedicated to engineering, procurement, and construction (EPC) services – has completed and connected to the grid its first Romanian PV power plant in the municipality of Siria, with a capacity of 5.7 MWp.

Techcelerator and Google for Startups have selected 15 startups out of 114 registered for Advancing AI #3, an accelerator program for startups in the region creating MVP and Investment Readiness products based on AI (Artificial Intelligence) solutions.

Telekom Romania Mobile on Thursday (Feb 23) said it ended 2022 with total revenue of EUR306.4 million, down 2.9% from 2021.

SIF Banat-Crisana (SIF1.RO), the largest financial investment company listed on the Bucharest Stock Exchange by assets and market value, is to become Lion Capital, after shareholders voted for rebranding on Thursday, February 23.

The M&A market in Romania did well in 2022, with a 17% increase in the volume of reported deals (76 deals), while the reported value decreased to EUR1.4 billion from EUR2.7 billion in 2021, a report by international audit and advisory firm Mazars says.

The Bucharest Stock Exchange announces that EUR119.3 million worth of bonds issued by CEC Bank, the lender with the longest history in the financial-banking market in Romania, which started to operate in 1864, will be traded on its Main Market on Friday (Feb 24),

Romanian small and medium-sized enterprises (SMEs) are increasingly open to new technologies, and half of them declare themselves “early adopters” when it comes to innovative solutions, as per a market research conducted by Glovo and research company Ipsos at end-2022.

Safetech Innovations (SAFE.RO), a Romanian cybersecurity firm listed on the Bucharest Stock Exchange, with offices in Bucharest, London and Abu Dhabi, ended 2022 with a turnover of RON34.9 million, up 52% on the year, and a net profit of RON10.2 million, up 70% versus 2021.

The Supervisory Board of OMV Petrom decided in its meeting of Feb 23 to extend the mandate of the company's Chief Executive Officer (CEO), Christina Verchere, by four more years, until April 16, 2027, as per a press statement sent to Ziarul Financiar (ZF). daily

Private lending in Romania grew by 11.5% in nominal terms (-3.1% in real terms) in January 2023 versus January 2021 to RON364 billion, as local currency lending increased by 6.4% (-7.5% in real terms) and foreign currency lending expressed in lei by 25% (+25.5% in real terms when expressed in euros), central bank data showed on Thursday (Feb 23).

Reff & Associates | Deloitte Legal co-opts in the team of partners Alex Slujitoru, a lawyer with over 15 years of experience, to lead the tax litigation practice.

Sales of battery electric vehicles (BEVs) on the top five European markets (Germany, France, Italy, Spain and UK) grew by 28% in 2022 versus 2021, as per an analysis by Strategy&, the Global Strategy Department of PwC.

The number of housing units sold in Bucharest last year rose by 11% in 2022 from 2021, but the falling affordability and the restrictive interest rates whetted Romanians’ appetite for rents, reveals a Colliers survey.

Raiffeisen Bank in 2022 posted RON3.2 billion revenues, up 22%, and RON1.2 billion net profit, 56% higher than the 2021 level.

Omnia Capital, a company active on the M&A market, has taken over freight forwarder Dumagas Transport, a major business in the field, from investment fund Bancroft.

Medicover Romania, the third largest player on the local private healthcare market, has further growth plans on the local market after having stepped up development in 2022.

Pet Network International group, which owns Animax and Maxipet stores in Romania, wants to open eight new MaxiPet stores this year to step up growth.